Shares of SLM Corporation (NASDAQ:SLM – Get Free Report) saw strong trading volume on Friday. Approximately 2,181,485 shares traded hands during trading, a decline of 28% from the previous session’s volume of 3,035,412 shares. The stock last traded at $19.6770 and had previously closed at $21.76.
Key Headlines Impacting SLM Here are the key news stories impacting SLM this week:
Positive Sentiment: Private education loan originations rose 15% year over year to a record $3.4 billion, while graduate-loan originations increased 119%. SLM also repurchased 5.1 million shares for $132.2 million, supporting per-share value over the longer term. Sallie Mae Reports Third-Quarter Results Positive Sentiment: Sixth Street committed to purchase approximately $1.5 billion of student loans annually, potentially expanding SLM’s funding and loan-origination capacity. SLM: Three Key Takeaways Neutral Sentiment: Morgan Stanley, RBC, and TD Cowen lowered their price targets to $26, $26, and $27, respectively, but retained positive ratings ranging from overweight to buy. The revisions indicate reduced near-term expectations while implying substantial potential upside from recent levels. Negative Sentiment: SLM reported a $35.9 million net loss attributable to common stock, or $0.19 per share, compared with $0.63 of earnings a year earlier. Revenue fell 31.3% year over year to approximately $375.5 million, below the $453.3 million consensus estimate. SLM Quarterly Earnings Results Negative Sentiment: Management cut 2026 diluted EPS guidance to $1.95–$2.05 from $3.10–$3.20 and raised expected full-year net charge-offs to $400–$420 million. Third-quarter charge-offs reached about $90 million, reflecting increased defaults tied partly to third-party debt-resolution practices. Negative Sentiment: Credit-loss provisions totaled $213.7 million and non-interest expenses rose to roughly $220.7 million as SLM spent more to capture seasonal loan demand. These higher costs overwhelmed the strong origination growth and are the primary reasons investors have sold the stock. Sallie Mae Cuts Full-Year View Analyst Ratings Changes A number of analysts recently issued reports on the company. Royal Bank Of Canada lowered their price target on SLM from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Friday. JPMorgan Chase & Co. reduced their price objective on SLM from $25.00 to $22.00 and set an “underweight” rating on the stock in a report on Monday, October 12th. Weiss Ratings downgraded SLM from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. Wells Fargo & Company decreased their target price on SLM from $28.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday. Finally, TD Cowen decreased their target price on SLM from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Friday. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, SLM currently has a consensus rating of “Hold” and an average target price of $26.44.
View Our Latest Stock Analysis on SLM SLM Stock Down 10.8% The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.32 and a current ratio of 1.33. The stock has a market capitalization of $3.65 billion, a PE ratio of 7.04, a PEG ratio of 1.33 and a beta of 0.96. The business has a 50 day moving average of $24.46 and a two-hundred day moving average of $23.99.
SLM (NASDAQ:SLM – Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The credit services provider reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.36). SLM had a net margin of 20.43% and a return on equity of 25.75%. The company had revenue of $375.47 million for the quarter, compared to the consensus estimate of $453.34 million. During the same period in the previous year, the business earned $0.63 EPS. SLM’s revenue for the quarter was down 31.3% compared to the same quarter last year. Analysts predict that SLM Corporation will post 2.00 EPS for the current year.
SLM Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, December 4th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, December 4th. SLM’s dividend payout ratio is presently 18.84%.
Institutional Trading of SLM Institutional investors have recently modified their holdings of the company. Citizens Financial Group Inc. RI purchased a new position in shares of SLM in the 3rd quarter worth approximately $237,000. Fifth Third Wealth Advisors LLC raised its stake in shares of SLM by 9.2% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 9,336 shares of the credit services provider’s stock worth $211,000 after acquiring an additional 787 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of SLM by 78.7% during the 3rd quarter. Sterling Capital Management LLC now owns 15,106 shares of the credit services provider’s stock worth $342,000 after acquiring an additional 6,654 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of SLM during the 3rd quarter worth approximately $28,000. Finally, Vest Financial LLC raised its stake in shares of SLM by 44.1% during the 3rd quarter. Vest Financial LLC now owns 270,049 shares of the credit services provider’s stock worth $6,111,000 after acquiring an additional 82,611 shares in the last quarter. 98.94% of the stock is currently owned by institutional investors.
About SLM (Get Free Report)
SLM Corp., commonly known as Sallie Mae, is a financial services company focused on helping students and families finance higher education. Its primary business is the origination and servicing of private education loans, which can help cover tuition, fees, books, housing and other eligible education-related expenses not fully covered by federal student aid.
The company offers private student loans for undergraduate and graduate education, as well as loans for career-training programs and other education needs.
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SLM shares fell after the student lender disclosed it had paused most of its third-party recovery activities as third-quarter net charge-offs reached $90.4 million. Levi & Korsinsky is investigating potential securities law violations on behalf of SLM investors.
, /PRNewswire/ -- SLM Corporation (NASDAQ: SLM) shareholders are taking losses after the student lender disclosed on October 22, 2026 that it had paused the majority of its third-party recovery activities while third-quarter net charge-offs climbed to $90.4 million. If you bought SLM shares and lost money on this news, you may have legal rights. Investors who suffered losses are encouraged to submit your SLM loss details now . You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
The disclosure appeared in SLM's Form 10-Q, filed after-market October 22, 2026, which indicated the Company was "pausing the majority of third-party recovery activities while we continue to develop and implement a more effective, customer-aligned approach." Net charge-offs for the first nine months of 2026 reached $292 million, up from $248 million in 2025.
Alongside a reduction of its annual guidance projection by more than a third, SLM increased their net charge-off guidance for the full year by $35 million to a range of $400 million to $420 million. Levi & Korsinsky is investigating whether SLM may not have adequately disclosed how changes to its collection and recovery practices could affect credit losses.
Shareholders who lost money on SLM can request a review of their SLM losses or call (212) 363-7500.
WHY LEVI & KORSINSKY -- Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors.
Frequently Asked Questions About the SLM Investigation
Q: Who is eligible to participate in the SLM investigation? A: Investors who purchased SLM stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.
Q: How much did SLM stock drop? A: From a closing price of $21.76 on October 22, 2026, SLM shares declined an initial $0.95, or 4.4%, when the market opened on October 23, 2026. By midday, the stock had fallen nearly than $2, or more than 9%, from the previous day's closing price. Investors who purchased shares at allegedly inflated prices and suffered losses may be eligible to seek compensation.
Q: What do SLM investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery . No immediate action is required to remain eligible to participate in the investigation.
Q: What documents do I need to participate? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.
Q: What if I already sold my SLM shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought SLM and sold at a loss may still participate in the investigation.
Q: Do I need to go to court or give testimony? A: No. Participating in the investigation does not require court appearances or depositions. If legal action is later pursued, the overwhelming majority of affected investors never appear in court either.
Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in any resulting action, these matters are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
On its third quarter of 2026 earnings call, held on Oct. 22, 2026, SLM (SLM -4.69%) announced a new strategic partnership and lowered its full-year earnings guidance after pulling back on planned whole-loan sales. Long-term investors get clarity from this shift, as management prioritized multiyear loan yields over quick transaction premiums. Building alternative funding channels protects the business against volatile interest rate cycles. Three key takeaways from the call explain how these strategic decisions shape the company's trajectory.
1. Sixth Street Partnership Expands Funding Beyond Traditional Bank DepositsSLM completed a three-year strategic agreement with Sixth Street to sell off newly originated private education loans, securing recurring program management fees and servicing revenue. This second partnership diversifies funding options alongside traditional bank deposits and loan sales.
Sixth Street has committed to purchase a minimum of $1.5 billion in newly originated private education loans annually with the first year inclusive of an initial seed portfolio of $600 million in seasoned loans.
-- Jonathan W. Witter, Chief Executive Officer2. Balance Sheet Retention Replaces Q4 Loan Sales and Lowers EPS GuidanceManagement chose not to execute a planned whole loan sale because choppy capital markets pushed indicated prices below its minimum threshold. Retaining these assets lets the bank capture a 5% net interest margin (the difference between interest earned on loans and interest paid on deposits), even though it reduces 2026 earnings per share (a company's net income divided by its outstanding stock) guidance to $1.95 to $2.05.
In this instance, we determined that we could create more shareholder value by retaining the loans on our balance sheet and earning at roughly 5% NIM over time rather than selling at the current indicated premium levels.
-- Jonathan W. Witter, Chief Executive Officer3. Misaligned Debt Resolution Practices Drive Up Full-Year Charge-Off ExpectationsThird-party debt resolution practices disrupted late-stage delinquent borrowers, forcing SLM to pause certain recovery efforts. Executive leadership raised full-year net charge-off guidance (the value of loans written off as uncollectible) to $400 million to $420 million to absorb these pressures.
As such, we are increasing our full year net charge off guidance to $400 million to $420 million with a midpoint $45 million higher than that of our original range.
-- Jonathan W. Witter, Chief Executive OfficerLooking AheadDemand across graduate student lending is expanding rapidly following federal program reforms, and management is positioning product lines to capture that market share. Executives are watching loss mitigation performance and pricing discipline while expanding loan flow capabilities.
In Q3, graduate originations were up 119% year over year, with an average FICO score 9 points higher than the overall average of new origination in the portfolio.
-- Jonathan W. Witter, Chief Executive OfficerRetaining low-cost deposit funding and building recurring fee streams provides structural flexibility through fluctuating rate cycles. The broader capital allocation strategy balances balance sheet retention with disciplined share repurchases.
We are grateful for the strategic flexibility and the competitive advantage of having a well capitalized deposit funded bank now complemented through our emerging strategic partnerships business.
-- Jonathan W. Witter, Chief Executive OfficerSLM is an advertising partner of Motley Fool Money. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Sallie Mae (SLM) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of $0.12. This compares to earnings of $0.63 per share a year ago.
Sallie Mae (SLM - Free Report) reported $339.32 million in revenue for the quarter ended September 2026, representing a year-over-year decline of 9%. EPS of -$0.19 for the same period compares to $0.63 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $353.66 million, representing a surprise of -4.05%. The company delivered an EPS surprise of -258.33%, with the consensus EPS estimate being $0.12.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Sallie Mae performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 4.9% versus 4.9% estimated by two analysts on average.Efficiency Ratio: 58.8% versus 47.7% estimated by two analysts on average.Net Interest Income: $339.32 million versus the two-analyst average estimate of $349.1 million.Gains (losses) on sales of loans, net: $3.65 million versus the two-analyst average estimate of $47.28 million.Total Non-Interest Income: $36.15 million versus $102.97 million estimated by two analysts on average.View all Key Company Metrics for Sallie Mae here>>>
Shares of Sallie Mae have returned -3.3% over the past month versus the Zacks S&P 500 composite's no change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
SLM NASDAQ: SLM, the company known as Sallie Mae, reported record third-quarter private education loan originations and announced a new funding partnership with Sixth Street, while lowering its full-year earnings outlook after deciding against a planned whole-loan sale amid elevated interest rates and volatile capital markets.
Chief Executive Officer Jon Witter said the company originated $3.4 billion of loans during the third quarter, a 15% increase from a year earlier and the highest quarterly volume in its history. Graduate loan originations rose 119% year over year, with borrowers in that category carrying average FICO scores nine points higher than the overall average for new originations, he said.
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Witter said the peak lending season has extended into October because of late changes in federal rulemaking, systems challenges and delays in schools providing financial-aid packages. Month-to-date October disbursements were up 35% from a year earlier. Sallie Mae expects full-year originations growth of 12% to 14%, in line with its existing guidance.
Sixth Street Partnership Expands Funding Channels Sallie Mae said it completed a strategic partnership with Sixth Street for an initial three-year term. Sixth Street committed to purchase at least $1.5 billion of newly originated private education loans each year. The first year includes an initial seed portfolio of $600 million in seasoned loans.
The agreement follows the company’s prior strategic partnership with KKR. Witter said the two partnerships expand origination capacity through scalable and capital-efficient funding, reduce dependence on short-term capital-market conditions, and create recurring program-management and servicing fees.
The company’s next priority is developing flow-sale capabilities for graduate loan products following changes to the federal PLUS program. Management said it remains encouraged by the opportunity to serve graduate borrowers after the reforms.
Chief Financial Officer Pete Graham said other income increased $15 million from the prior-year quarter, helped by recurring program-management fees from the strategic partnership business and higher servicing fee revenue. Net interest income totaled $339 million, down $34 million year over year, while other income was $46 million.
Credit Outlook Revised Higher Private education loan net charge-offs were $90 million in the third quarter, modestly above management’s expectations. Witter said the increase was concentrated among borrowers affected by third-party debt-resolution practices that the company had discussed previously. Performance in the non-affected borrower segment was in line with or slightly better than expectations, he said.
The company raised its full-year net charge-off guidance to $400 million to $420 million from its prior range of $345 million to $385 million. Management now estimates that the third-party practices will add about $45 million to 2026 net charge-offs, up from its prior estimate of approximately $25 million.
Sallie Mae has changed aspects of its recovery approach and said early indicators have been favorable. Witter said the company’s review of relevant collection and recovery calls using artificial intelligence found a 50% decline in borrowers’ mentions of relevant players and practices during October to date. However, customer adoption of the company’s new approaches has been slower among borrowers already in later delinquency stages and more deeply engaged with debt-resolution providers.
The company said it has begun to see initial recoveries from the affected population and that, while the sample remains small, recovery rates have been meaningfully higher than those of historically charged-off borrowers. Witter said management expects the issue’s impact next year to be meaningfully less than it was in 2026, absent a material change in the strategies of outside parties.
Loans delinquent by 30 days or more represented 4.2% of loans in repayment, compared with 4% a year earlier. The reserve rate was 5.89% at quarter-end, down four basis points from the prior-year period. Provision for credit losses was $214 million, primarily reflecting the period’s significant originations growth.
Loan-Sale Decision Pressures EPS Outlook Sallie Mae said it does not expect to complete its final planned whole-loan sale of 2026, which had been anticipated for October. Witter said management concluded that likely sale premiums were below its minimum acceptable threshold because of higher rates and more challenging market conditions.
Rather than sell loans at current indicated premiums, the company opted to retain them on its balance sheet and earn what Witter described as roughly a 5% net interest margin over time. He said the company’s deposit-funded bank and strategic partnerships provide flexibility to remain selective in loan sales.
Primarily because of the decision not to conduct the additional loan sale, Sallie Mae lowered its full-year 2026 earnings-per-share guidance to $1.95 to $2.05. Graham said the updated outlook includes the gain on sale related to the Sixth Street partnership’s second strategic arrangement.
Management said the decision does not represent a permanent change to its loan-sale strategy. Graham said the company’s base case for 2027 anticipates market conditions that support premiums above its minimum threshold, with loan sales continuing to help manage capital and support shareholder returns. The company expects to meet commitments to both strategic partners and said it could maintain a flat balance sheet or grow it at a single-digit rate under that scenario.
Expenses, Capital and Share Repurchases Net interest margin was 4.85% in the third quarter, up 10 basis points from the prior quarter. Graham said Sallie Mae extended the duration of its funding earlier in the year to better match a growing share of fixed-rate loans. The weighted average life of deposits increased to 37 months from 23 months at the end of 2025, moving the company toward a more neutral interest-rate risk position.
Non-interest expense was $221 million, up $40 million from a year earlier, largely reflecting investments for the peak lending season and growth opportunities created by changes in federal student lending. Sallie Mae executed a restructuring plan on Oct. 1 to align resources with strategic priorities and improve operating efficiency. Management said it expects to absorb the related one-time charges within its full-year expense guidance, which it reaffirmed.
During the quarter, Sallie Mae repurchased 5.1 million shares at an average price of $25.69. Since the beginning of the year, it has repurchased 18.1 million shares at an average price of $23.02, representing 9% of shares outstanding. The company ended the quarter with liquidity equal to 15% of total assets, total risk-based capital of 12.5%, and common equity tier 1 capital of 11.2%.
About SLM (NASDAQ:SLM)SLM Corp., commonly known as Sallie Mae, is a financial services company focused on helping students and families finance higher education. Its primary business is the origination and servicing of private education loans, which can help cover tuition, fees, books, housing and other eligible education-related expenses not fully covered by federal student aid.
The company offers private student loans for undergraduate and graduate education, as well as loans for career-training programs and other education needs.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today released third quarter 2026 financial results. Complete financial results and related materials are available at www.SallieMae.com/investors. The materials will also be available on the Securities and Exchange Commission's website at www.sec.gov. Sallie Mae will host an earnings conference call today, Oct. 22, 2026, at 5:30 p.m. ET. Executives will be on hand to discuss various highlights of the quarter and.
The private student loan company, formally SLM Corp., now expects earnings per share for the year to be $1.95 to $2.05, down from its earlier guidance of $3.10 to $3.20.
Beyond analysts' top-and-bottom-line estimates for Sallie Mae (SLM), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended September 2026.
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae® (Nasdaq: SLM), formally SLM Corporation, today announced a 2026 fourth-quarter dividend on its Preferred Stock Series B of $1.4939647 per share. The company also announced a 2026 fourth-quarter dividend on its common stock of $0.13 per share.Both preferred stock and common stock dividends will be paid on Dec. 15, 2026, to the respective stockholders of record at the close of business on Dec. 4, 2026.Sallie Mae (Nasdaq: SLM) believes education and life-l.
Wall Street expects a year-over-year decline in earnings on lower revenues when Sallie Mae (SLM - Free Report) reports results for the quarter ended September 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis student loan company is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of -81%.
Revenues are expected to be $353.66 million, down 5.2% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 27.23% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Sallie Mae?For Sallie Mae, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -15.73%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Sallie Mae will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Sallie Mae would post earnings of $0.46 per share when it actually produced earnings of $0.29, delivering a surprise of -36.96%.
Over the last four quarters, the company has beaten consensus EPS estimates two times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Sallie Mae doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsAlly Financial (ALLY - Free Report) , another stock in the Zacks Financial - Consumer Loans industry, is expected to report earnings per share of $1.32 for the quarter ended September 2026. This estimate points to a year-over-year change of +14.8%. Revenues for the quarter are expected to be $2.28 billion, up 5.1% from the year-ago quarter.
The consensus EPS estimate for Ally Financial has been revised 5% lower over the last 30 days to the current level. However, an equal Most Accurate Estimate has resulted in an Earnings ESP of 0.00%.
This Earnings ESP, combined with its Zacks Rank #5 (Strong Sell), makes it difficult to conclusively predict that Ally Financial will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Webcast Scheduled for Thursday, Oct. 22, at 5:30 p.m. ET
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae® (Nasdaq: SLM), formally SLM Corporation, will release third-quarter 2026 financial results after market close on Thursday, Oct. 22, 2026.
A live audio webcast and presentation slides will be available at SallieMae.com/investors and the hosting website. Investors should log in at least 15 minutes prior to the broadcast.
The earnings news release will be available at SallieMae.com/investors. A replay will also be available on the site.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
SLM Corporation (NASDAQ:SLM – Get Free Report) has earned a consensus rating of “Hold” from the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $29.40.
Several research firms recently weighed in on SLM. JPMorgan Chase & Co. reduced their target price on SLM from $25.00 to $22.00 and set an “underweight” rating for the company in a report on Monday. Morgan Stanley upped their price target on shares of SLM from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Wells Fargo & Company set a $28.00 price target on SLM in a research report on Friday, July 24th. Royal Bank Of Canada lowered their price target on SLM from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Barclays reiterated an “equal weight” rating and issued a $26.00 price objective (down from $30.00) on shares of SLM in a research note on Tuesday, July 7th.
Check Out Our Latest Analysis on SLM
SLM Price Performance
NASDAQ SLM opened at $22.94 on Tuesday. SLM has a fifty-two week low of $17.77 and a fifty-two week high of $31.06. The stock’s 50-day moving average is $25.49 and its two-hundred day moving average is $23.96. The firm has a market cap of $4.31 billion, a P/E ratio of 6.41, a price-to-earnings-growth ratio of 1.54 and a beta of 0.96. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.33 and a quick ratio of 1.32.
SLM (NASDAQ:SLM – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.17). The company had revenue of $401.11 million for the quarter, compared to the consensus estimate of $409.22 million. SLM had a return on equity of 33.81% and a net margin of 26.09%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. SLM has set its FY 2026 guidance at 3.100-3.200 EPS. On average, analysts anticipate that SLM will post 3.12 earnings per share for the current fiscal year.
SLM Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, September 4th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, September 4th. This represents a $0.52 annualized dividend and a yield of 2.3%. SLM’s dividend payout ratio is presently 14.53%.
Institutional Trading of SLM
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of SLM by 16.3% during the third quarter. GAMMA Investing LLC now owns 13,461 shares of the credit services provider’s stock worth $305,000 after buying an additional 1,882 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of SLM by 52.1% in the third quarter. Farther Finance Advisors LLC now owns 4,819 shares of the credit services provider’s stock valued at $109,000 after acquiring an additional 1,650 shares during the period. Versant Capital Management Inc grew its stake in shares of SLM by 48.7% in the third quarter. Versant Capital Management Inc now owns 2,016 shares of the credit services provider’s stock worth $46,000 after acquiring an additional 660 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of SLM by 32.2% in the second quarter. QRG Capital Management Inc. now owns 66,623 shares of the credit services provider’s stock worth $1,728,000 after acquiring an additional 16,233 shares during the last quarter. Finally, Tidal Investments LLC increased its position in SLM by 5.5% during the second quarter. Tidal Investments LLC now owns 497,731 shares of the credit services provider’s stock worth $12,911,000 after acquiring an additional 26,026 shares during the period. Institutional investors and hedge funds own 98.94% of the company’s stock.
SLM Company Profile
(Get Free Report)
SLM Corp., operating under the Sallie Mae brand, is a financial services company focused on education financing. It primarily provides private student loans to undergraduate and graduate students, as well as education loans for parents and other creditworthy borrowers. Sallie Mae also offers related products and resources designed to help families plan and pay for college.
The company’s private education loans can be used for eligible expenses such as tuition, fees, books, supplies, and living costs.
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The 2027-28 FAFSA® Is Now Open: Students and Families Should File It As Soon As Possible to Maximize Financial Aid for College The 2027-28 Free Application for Federal Student Aid (FAFSA®) is now open, giving incoming and current college students extra time to apply for financial aid for the 2027-28 school year.
Completing the FAFSA® is the first step to accessing federal, state, and school-based financial aid for college, including grants, scholarships, work-study, and other aid. Some aid is limited or awarded on a first-come, first-served basis, so filing early can make a real difference for students and families and ultimately, could mean paying less out of pocket for college. That said, only 25% of families know the form opens in the fall.
Why Should More Families Complete the FAFSA®?
Just about every family who completes the FAFSA® qualifies for some form of financial aid, yet many never file. More than a quarter of families (26%) skipped the FAFSA® last year, often because they believed their income was too high to qualify, lacked the required application information, or missed a deadline. As a result, critical financial aid, including millions in scholarships and billions in Pell grants can go unclaimed.
“Think of the FAFSA® as the front door to financial aid,” said Rick Castellano, vice president, Sallie. “Whether you’re heading to college for the first time or returning for another year, filing early can help uncover scholarships, grants, and other aid that can make college more affordable. And with this year’s form expected to be faster and easier to complete, families can get a clearer picture of their options sooner.”
What’s New About the 2027-28 FAFSA®?
Several updates make this year’s FAFSA® process simpler, including:
A shorter form that can be completed by most families in under 12 minutes.A real time estimate of federal aid eligibility for students and families directly after submitting the form, along with their FAFSA® Submission Summary and Student Aid Index (SAI).Pre-filled information for returning students and reusable parent information for families with multiple children applying, to avoid having to enter the same details repeatedly.Simple contributor invitations that allow students to send a parent or contributor a code to complete their portion of the form.Automatic transfer of tax information, reducing paperwork and the amount of information families need to track down.Tips for Completing the 2027-28 FAFSA®
Gather your information before you start. Check the list of information required for the FAFSA® and have it ready.Create your StudentAid.gov account. Students and anyone else contributing information need an account to complete and sign the form. Setting one up early can help avoid delays.File even if you don’t think you’ll qualify. Many grants and scholarships require a completed FAFSA®, and eligibility is often broader than families expect. Students and families looking for help can register for Sallie’s free FAFSA® webinars and access the 2027-28 FAFSA® Guide for step-by-step support.Know your deadlines. Federal, state, and school aid deadlines are all different. Some grants, scholarships, and state aid programs have limited funding or priority deadlines, so submitting the FAFSA® as early as possible can help students and families qualify for more aid.Keep looking for other ways to pay less for college. Filing the FAFSA® every year is just one step. Families can explore additional opportunities through Scholly® Scholarship Search by Sallie and find tips and resources to help lower college costs.For more free resources on filing the FAFSA® and planning and paying for college, visit Sallie.com.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Category: Financial Literacy
View source version on businesswire.com: https://www.businesswire.com/news/home/20260929906088/en/
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
On September 22, 2026, SLM Corp SLM shares fell 3.3%, bringing the current price to $24.25. The stock has experienced a challenging year, with a 52-week high of $31.06 and a low of $17.77.
GF Value™ verdict: Current price is $24.25, which is 19.4% above GF Value™ of $20.31.GF Score™: 79/100, indicating an above-average rating.Most notable signal: No insider transactions in the past 12 months.Is SLM Overvalued or Undervalued?SLM Corp is currently classified as modestly overvalued based on the GF Value™, which represents GuruFocus' proprietary estimate of intrinsic value calculated from historical trading multiples, business growth patterns, and future performance expectations. The current share price of $24.25 exceeds the GF Value™ of $20.31 by 19.4%, suggesting that the stock may not provide a sufficient margin of safety for new investors. This overvaluation poses risks, particularly for potential investors looking for strong entry points based on intrinsic value.
However, the GF Value™ should be taken as a directional warning rather than a precise target for fair value, especially since SLM has been unprofitable and cash-flow negative in recent periods. Therefore, while the GF Value™ indicates potential overvaluation, it is essential to consider the broader market context and the company's financial trajectory when making investment decisions.
How Does SLM's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)6.8x7.9xForward P/E7.3xN/ASLM's current P/E ratio of 6.8x is 14% below its 5-year median of 7.9x, indicating that the stock is trading below its historical valuation based on earnings. This P/E analysis aligns with the GF Value™ verdict of being overvalued, as the low P/E suggests that the stock may not be reflecting its potential future growth adequately.
What Does SLM's GF Score™ Tell Us?The GF Score™ evaluates a company's fundamentals, including financial strength, profitability, growth potential, valuation, and momentum. SLM's GF Score™ of 79/100 indicates that the company is performing above average in these areas, with specific strengths in profitability and growth.
MetricRatingGF Score™79/100Financial Strength3/10Profitability7/10Growth8/10Valuation5/10Momentum10/10SLM's strongest areas are its growth rank of 8/10 and momentum rank of 10/10, indicating that the company has been able to expand effectively and demonstrate positive stock movement in recent times. However, its financial strength score of 3/10 suggests vulnerabilities in its balance sheet, which could be a concern for potential investors.
What Are Gurus and Insiders Doing with SLM?Currently, 11 gurus hold SLM stock, with 5 adding to their positions and 6 trimming their stakes in recent quarters. This mixed activity among institutional investors suggests a cautious sentiment regarding the stock's future performance.
Additionally, there have been no insider transactions in the past 12 months, which may indicate a lack of confidence among insiders in the current valuation or outlook for SLM. The absence of insider buying could be seen as a negative sign, as it often reflects a lack of conviction in the company's ability to recover or grow in the near term.
What This Means for InvestorsBased on the GF Value™ analysis, SLM Corp is currently overvalued with a share price of $24.25 compared to the GF Value™ of $20.31, indicating a potential risk for investors. The P/E analysis further corroborates this stance, suggesting that earnings metrics do not reflect an attractive buying opportunity at this time. As such, caution is advised for potential investors evaluating SLM's market position and future prospects. For a deeper dive into SLM Corp, visit the SLM Corp SLM stock page.
Frequently Asked QuestionsWhat is SLM's GF Score™?
SLM's GF Score™ is 79/100, indicating an above-average performance in terms of fundamental analysis metrics.
Is SLM overvalued or undervalued?
SLM is currently overvalued, with a GF Value™ of $20.31 compared to the current price of $24.25.
What is SLM's P/E ratio?
SLM's P/E ratio is 6.8x, which is 14% below its 5-year median of 7.9x, indicating that the stock is trading below its historical valuation based on earnings.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
SLM Corporation (NASDAQ:SLM – Get Free Report) has earned an average recommendation of “Hold” from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $29.80.
A number of equities research analysts recently issued reports on SLM shares. Zacks Research lowered SLM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price target on SLM from $24.00 to $25.00 and gave the stock an “underweight” rating in a report on Monday, July 13th. Weiss Ratings restated a “hold (c+)” rating on shares of SLM in a research report on Monday, September 14th. Wells Fargo & Company set a $28.00 price objective on SLM in a research note on Friday, July 24th. Finally, Barclays reiterated an “equal weight” rating and set a $26.00 price objective (down from $30.00) on shares of SLM in a research report on Tuesday, July 7th.
Get Our Latest Report on SLM
Hedge Funds Weigh In On SLM Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of SLM during the 2nd quarter valued at about $455,576,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of SLM during the 2nd quarter worth about $169,136,000. Azora Capital LP acquired a new stake in shares of SLM in the second quarter worth approximately $97,917,000. Bank of New York Mellon Corp acquired a new stake in shares of SLM in the second quarter worth approximately $39,251,000. Finally, Bank of America Corp DE purchased a new stake in SLM in the second quarter valued at approximately $37,268,000. Hedge funds and other institutional investors own 98.94% of the company’s stock. SLM Stock Performance NASDAQ:SLM opened at $25.10 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.32 and a debt-to-equity ratio of 2.63. The company has a market capitalization of $4.72 billion, a P/E ratio of 7.01, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96. The firm has a 50-day moving average price of $26.22 and a two-hundred day moving average price of $23.60. SLM has a twelve month low of $17.77 and a twelve month high of $31.06.
SLM (NASDAQ:SLM – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.17). SLM had a net margin of 26.09% and a return on equity of 33.81%. The business had revenue of $401.11 million during the quarter, compared to analysts’ expectations of $409.22 million. During the same period last year, the company earned $0.32 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. SLM has set its FY 2026 guidance at 3.100-3.200 EPS. As a group, research analysts expect that SLM will post 3.12 earnings per share for the current fiscal year.
SLM Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, September 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.1%. SLM’s payout ratio is 14.53%.
SLM Company Profile (Get Free Report)
SLM Corporation, commonly known as Sallie Mae, is a U.S.-based education finance company that provides private education loans to undergraduate and graduate students, as well as to parents and other borrowers. Its lending products are designed to help cover tuition, fees, housing, books and other qualified education expenses not fully met by federal financial aid or other funding sources.
Through Sallie Mae Bank, the company also offers consumer deposit products, including savings accounts, certificates of deposit and money market accounts.
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Engineers Gate Manager LP lowered its stake in shares of SLM Corporation (NASDAQ:SLM – Free Report) by 50.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,445 shares of the credit services provider’s stock after selling 59,945 shares during the period. Engineers Gate Manager LP’s holdings in SLM were worth $1,542,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in shares of SLM in the second quarter valued at about $215,000. Allworth Financial LP raised its stake in SLM by 202.3% during the second quarter. Allworth Financial LP now owns 2,116 shares of the credit services provider’s stock worth $55,000 after purchasing an additional 1,416 shares during the period. Nykredit A S acquired a new position in SLM in the 2nd quarter valued at about $77,000. Parkside Financial Bank & Trust boosted its holdings in SLM by 738.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 4,077 shares of the credit services provider’s stock valued at $106,000 after purchasing an additional 3,591 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of SLM in the 2nd quarter valued at approximately $4,184,000. 98.94% of the stock is owned by institutional investors and hedge funds.
SLM Trading Down 3.3% SLM opened at $25.28 on Thursday. SLM Corporation has a 52 week low of $17.77 and a 52 week high of $31.06. The company has a quick ratio of 1.32, a current ratio of 1.33 and a debt-to-equity ratio of 2.63. The business has a fifty day simple moving average of $26.21 and a 200-day simple moving average of $23.51. The firm has a market cap of $4.75 billion, a P/E ratio of 7.06, a P/E/G ratio of 2.27 and a beta of 0.96.
SLM (NASDAQ:SLM – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.17). SLM had a net margin of 26.09% and a return on equity of 33.81%. The firm had revenue of $401.11 million during the quarter, compared to analysts’ expectations of $409.22 million. During the same quarter in the prior year, the firm posted $0.32 EPS. SLM’s quarterly revenue was down .7% compared to the same quarter last year. SLM has set its FY 2026 guidance at 3.100-3.200 EPS. On average, equities analysts expect that SLM Corporation will post 3.12 earnings per share for the current year. SLM Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, September 4th. SLM’s dividend payout ratio is currently 14.53%.
Analysts Set New Price Targets A number of analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of SLM from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. Wall Street Zen cut SLM from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Royal Bank Of Canada increased their price objective on SLM from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. raised their target price on SLM from $24.00 to $25.00 and gave the stock an “underweight” rating in a research note on Monday, July 13th. Finally, Weiss Ratings raised SLM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, SLM presently has a consensus rating of “Hold” and an average target price of $29.80.
Get Our Latest Research Report on SLM
SLM Profile (Free Report)
SLM Corporation, commonly known as Sallie Mae, is a U.S.-based education finance company that provides private education loans to undergraduate and graduate students, as well as to parents and other borrowers. Its lending products are designed to help cover tuition, fees, housing, books and other qualified education expenses not fully met by federal financial aid or other funding sources.
Through Sallie Mae Bank, the company also offers consumer deposit products, including savings accounts, certificates of deposit and money market accounts.
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Amundi reduced its stake in shares of SLM Corporation (NASDAQ:SLM – Free Report) by 34.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,470 shares of the credit services provider’s stock after selling 21,477 shares during the quarter. Amundi’s holdings in SLM were worth $1,076,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in SLM. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of SLM in the 2nd quarter worth approximately $4,184,000. California State Teachers Retirement System lifted its holdings in shares of SLM by 2,413.3% during the 2nd quarter. California State Teachers Retirement System now owns 5,691,210 shares of the credit services provider’s stock valued at $147,630,000 after purchasing an additional 5,464,767 shares during the last quarter. HB Wealth Management LLC purchased a new stake in shares of SLM during the 2nd quarter valued at $326,000. Pale Fire Capital SE acquired a new stake in shares of SLM in the 2nd quarter worth $449,000. Finally, Nykredit A S acquired a new stake in shares of SLM in the 2nd quarter worth $77,000. Institutional investors own 98.94% of the company’s stock.
SLM Trading Up 1.4% SLM stock opened at $26.40 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.33 and a debt-to-equity ratio of 2.63. SLM Corporation has a 52 week low of $17.77 and a 52 week high of $31.06. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 7.37, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The stock has a 50-day moving average price of $26.16 and a 200 day moving average price of $23.44.
SLM (NASDAQ:SLM – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The credit services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.17). SLM had a return on equity of 33.81% and a net margin of 26.09%.The business had revenue of $401.11 million during the quarter, compared to analyst estimates of $409.22 million. During the same quarter last year, the company posted $0.32 EPS. SLM’s quarterly revenue was down .7% compared to the same quarter last year. SLM has set its FY 2026 guidance at 3.100-3.200 EPS. Sell-side analysts anticipate that SLM Corporation will post 3.12 EPS for the current year. SLM Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 4th. SLM’s dividend payout ratio (DPR) is 14.53%.
Wall Street Analysts Forecast Growth Several research analysts recently weighed in on SLM shares. Weiss Ratings upgraded SLM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Wells Fargo & Company set a $28.00 price target on SLM in a report on Friday, July 24th. Wall Street Zen downgraded SLM from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. JPMorgan Chase & Co. boosted their price target on SLM from $24.00 to $25.00 and gave the stock an “underweight” rating in a research note on Monday, July 13th. Finally, Morgan Stanley upped their price objective on shares of SLM from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.80.
View Our Latest Report on SLM
SLM Profile (Free Report)
SLM Corporation, commonly known as Sallie Mae, is a U.S.-based education finance company that provides private education loans to undergraduate and graduate students, as well as to parents and other borrowers. Its lending products are designed to help cover tuition, fees, housing, books and other qualified education expenses not fully met by federal financial aid or other funding sources.
Through Sallie Mae Bank, the company also offers consumer deposit products, including savings accounts, certificates of deposit and money market accounts.
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Public Employees Retirement System of Ohio bought a new stake in SLM Corporation (NASDAQ:SLM – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 53,117 shares of the credit services provider’s stock, valued at approximately $1,378,000.
Other hedge funds also recently made changes to their positions in the company. Capstone Investment Advisors LLC bought a new position in SLM in the second quarter worth $528,000. Corient Private Wealth LP bought a new stake in shares of SLM during the 2nd quarter valued at $411,000. Azora Capital LP bought a new stake in shares of SLM during the 2nd quarter valued at $97,917,000. Bank of America Corp DE purchased a new stake in shares of SLM in the 2nd quarter worth about $37,268,000. Finally, Man Group plc purchased a new stake in shares of SLM in the 2nd quarter worth about $10,017,000. 98.94% of the stock is currently owned by institutional investors.
SLM Stock Performance Shares of SLM stock opened at $27.08 on Tuesday. SLM Corporation has a one year low of $17.77 and a one year high of $32.02. The company’s 50-day moving average is $26.12 and its 200 day moving average is $23.30. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 2.35 and a beta of 0.96. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.32 and a current ratio of 1.33.
SLM (NASDAQ:SLM – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The credit services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.17). The firm had revenue of $401.11 million for the quarter, compared to the consensus estimate of $409.22 million. SLM had a net margin of 26.09% and a return on equity of 33.81%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. SLM has set its FY 2026 guidance at 3.100-3.200 EPS. Sell-side analysts expect that SLM Corporation will post 3.12 EPS for the current fiscal year. SLM Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 4th. SLM’s payout ratio is presently 14.53%.
Analyst Upgrades and Downgrades SLM has been the subject of a number of recent research reports. Weiss Ratings raised shares of SLM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Wells Fargo & Company set a $28.00 price objective on shares of SLM in a report on Friday, July 24th. Wall Street Zen cut shares of SLM from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Morgan Stanley raised their target price on shares of SLM from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Finally, Royal Bank Of Canada boosted their price target on SLM from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $29.80.
Read Our Latest Stock Report on SLM
About SLM (Free Report)
SLM Corporation, operating as Sallie Mae Bank, is a leading U.S.-based consumer banking company specializing in education financing and related banking products. The company provides a range of private student loans for undergraduate and graduate studies, Parent PLUS loans, and specialized financing for career and certificate programs. In addition to its core lending services, Sallie Mae offers deposit products including savings accounts, checking accounts, money market accounts, certificates of deposit, and credit cards tailored to students and young adults.
Founded in 1972 as the Student Loan Marketing Association—a government-sponsored enterprise—Sallie Mae was privatized in 2004 and has since focused on expanding its private education loan offerings and digital banking solutions.
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NEWARK, Del.--(BUSINESS WIRE)--Nine in 10 families (91%) view higher education as a valuable investment and 84% are confident they made the right financial decisions to pay for it, according to “How America Pays for College 2026,” the annual national study by Sallie and Ipsos.
Key Takeaways Sallie Mae missed Q2 earnings and revenue estimates as lower NII and higher expenses hurt the results. SLM's non-interest income grew on gains from loan sales and higher other income.Sallie Mae's private education loans held for investment declined y/y to $19.5 billion. Sallie Mae (SLM - Free Report) , reported second-quarter 2026 earnings per share (EPS) of 29 cents, missing the Zacks Consensus Estimate of 46 cents. The metric declined 9.4% from the year-ago quarter.
Revenues of $338.8 million missed the Zacks Consensus Estimate of $355.2 million by 4.6%. This compares with the year-ago revenues of $376.82 million.
The quarterly results were hurt by lower net interest income (NII), higher provisions for credit losses and an increase in expenses. However, growth in non-interest income and private education loan originations offered some support.
The company’s GAAP net income attributable to common stock was $55 million compared with $67 million in the year-ago quarter.
Sallie Mae’s NII Declines, Expenses RiseSecond-quarter NII totaled $332.8 million, down 11.7% from $376.8 million in the prior-year quarter.
The quarterly net interest margin was 4.75%, contracting 56 basis points year over year.
Quarterly non-interest income was $68.3 million, up significantly from $26.8 million in the year-ago quarter. Gains on sales of loans were $14.9 million against a loss of $13,000 in the prior-year quarter. Other income grew 54.1% year over year to $45.3 million.
Non-interest expenses increased 16.6% year over year to $195 million. Compensation and benefits expenses rose 18.1% to $100.3 million. Other operating expenses were $88.9 million, up 24.1%.
SLM’s Credit Quality: Mixed BagIn the second quarter, provisions for credit losses were $125.7 million, down from $148.7 million in the prior-year quarter.
Net charge-offs were $113 million in the reported quarter, up from the year-ago quarter.
Delinquencies as a percentage of loans in repayment were 3.72% for the second quarter of 2026 compared with 3.51% in the prior-year quarter.
Sallie Mae’s Balance Sheet PositionAs of June 30, 2026, deposits totaled $19.9 billion, down from $20.5 billion in the year-ago quarter.
Private education loans held for investment, net, were $19.5 billion, down from $21.2 billion in the prior-year quarter.
Average loans outstanding, net, totaled $21.1 billion in the quarter. In the reported quarter, private education loan originations increased 4.5% year over year.
Key Ratios of SLMThe efficiency ratio was 48.6% compared with 41.4% in the year-ago quarter.
Return on assets was 0.8% compared with 1% in the prior-year quarter.
Return on common equity was 9.9% compared with 12.6% in the year-ago quarter.
SLM Share Repurchase UpdateThe company’s $200-million accelerated share repurchase concluded in June 2026. It repurchased 9.3 million shares under the program, including the final delivery of 0.9 million shares in the second quarter. As of June 30, 2026, $242 million remained available under the company’s 2026 share repurchase program.
Sallie Mae Reaffirms 2026 OutlookManagement reaffirmed its 2026 EPS guidance of $3.10-$3.20.
Sallie Mae expects year-over-year private education loan origination growth of 12-14%, net charge-offs of $365-$385 million and non-interest expenses of $750-$780 million.
The company sold $420 million in private education loans during the quarter, including $399 million of principal and $21 million of capitalized interest through its strategic partnerships business.
Final Thoughts on SLMSallie Mae delivered a disappointing second-quarter performance. Lower NII, margin contraction, higher expenses, declining loan and deposit balances, and elevated delinquencies remain concerning. Nonetheless, lower provisions for credit losses, growth in non-interest income and higher private education loan originations were positives.
Currently, SLM carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings Dates & Expectations of SLM’s PeersOneMain Holdings (OMF - Free Report) is slated to announce second-quarter 2026 numbers on July 29.
In the past week, the Zacks Consensus Estimate for OneMain’s quarterly earnings has been revised downward to $1.31. This implies a 9.7% decrease from the prior-year reported number.
Navient (NAVI - Free Report) is scheduled to announce quarterly numbers on Aug. 6.
In the past seven days, the Zacks Consensus Estimate for Navient’s quarterly earnings has been unchanged at 19 cents. This indicates a 9.5% decline from the prior-year reported number.
SLM NASDAQ: SLM, known as Sallie Mae, reported second-quarter 2026 GAAP diluted earnings of $0.29 per share and said early indicators from the first peak season following Federal PLUS reform are tracking at the high end of expectations or better.
Chief Executive Officer Jonathan Witter said the company has spent the past year preparing for changes in the higher education financing market after Federal PLUS reform “created the potential for a $4.5 billion-$5 billion increase in annual originations for Sallie Mae over the next several years.” He said Sallie Mae has completed planned product and capability updates ahead of peak season, including enhancements to its medical, dental, law and MBA products and the launch of a new parent loan.
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“While peak season is just beginning and it is too early for definitive conclusions, the application and volume trends for these new products ... are at the higher end of our expectations or better,” Witter said. He added that the trends, if sustained, support the company’s 2026 origination estimates and its longer-term view of the opportunity from PLUS program changes.
Originations Rise as Credit Quality Holds Steady Sallie Mae reported second-quarter loan originations of $716 million, up nearly 4.5% from the prior-year quarter. Witter said origination credit quality improved modestly year over year, with average FICO scores rising to 755 from 754, while cosigner rates remained strong at 84%.
The company also emphasized its position with school partners. Witter said Sallie Mae remains a preferred lender for more than 2,100 schools and has focused on supporting those relationships as the financing landscape changes.
Net Interest Income Falls, but Fee Revenue Grows Co-President and Chief Financial Officer Peter Graham said Sallie Mae generated $333 million of net interest income and $45 million of other income in the quarter. Net interest income declined by $44 million from the year-ago period, while other income increased by $16 million, driven by recurring program management fees from the company’s strategic partnership and growth in servicing fee revenue.
Net interest margin was 4.75% for the quarter. Graham said the moderation was expected and primarily reflected higher liquidity levels following a loan sale completed in late March. He said the company expects margin expansion to resume in the second half as excess liquidity is deployed into peak-season originations.
“As a result, we believe the second quarter will likely represent the low point for margin this year,” Graham said. In response to an analyst question, he said the company expects to normalize closer to its long-term target range of around 5%, though not necessarily far above that level in 2026.
Debt Resolution Activity Weighs on Recoveries Credit remained a major focus of the call. Witter said Sallie Mae has identified activity affecting a small borrower segment that the company believes has both the willingness and capacity to repay but is moving directly through delinquency to default. He said many of those borrowers appear to be engaging with debt resolution providers whose services are marketed as consolidation or refinancing solutions.
Witter said Sallie Mae does not believe many of those practices are in customers’ best interests and has taken steps to increase control over post-default recoveries. The company previously estimated a potential roughly $25 million impact to 2026 recoveries from the change in recovery practices, but Witter described the issue as “largely a timing dynamic.”
Net charge-offs were $113 million in the quarter, up from $94 million in the prior-year quarter. Witter said about $16 million of the year-over-year increase was attributable to the misaligned third-party debt resolution practices and related changes in recovery strategy. He said the company does not view the increase as a broad-based weakening in credit.
Private education loans delinquent 30 days or more were 3.7% of loans in repayment, up from 3.5% a year earlier but down from 4% at the end of the first quarter. The provision for credit losses was $126 million, down from $149 million in the year-ago quarter, and the reserve rate was 5.89%, down six basis points from the prior-year period.
Witter also pointed to continued performance from loan modification programs. He said borrowers in active modification cohorts have payment success rates above 80% over six- and 12-month periods, while more than 75% of borrowers exiting the programs are consistently making payments after three and six months.
Expenses Rise as Company Invests for Growth Non-interest expenses were $195 million, up $28 million from the prior-year quarter. Graham said most of the increase reflected one-time investments in product enhancements and strategic initiatives tied to expected growth from federal lending reforms. The efficiency ratio was 48.6%, up seven percentage points year over year.
Graham said revenue growth from servicing and recurring program management fees offset a significant portion of those investments. In the Q&A session, he said the company still expects the rate of expense growth in 2027 to be roughly half the rate from 2025 to 2026, while noting that management would like to do better.
Guidance Updated, Buybacks Continue Sallie Mae narrowed its 2026 net charge-off guidance range, maintaining the high end at $385 million and raising the low end to $365 million. The company affirmed all other guidance metrics. Graham said the expected $25 million potential impact from recovery changes has been partially offset by slightly better-than-expected performance in the broader portfolio.
The company also continued to return capital to shareholders. Graham said Sallie Mae completed a $200 million accelerated share repurchase program during the second quarter, repurchasing 9.3 million shares. Year to date, the company has repurchased about 13 million shares, or 6.5% of shares outstanding at the end of 2025, at an average price of $21.95 per share.
Since 2020, Graham said Sallie Mae has reduced shares outstanding by approximately 59% at an average price of $17.19 per share. The company ended the quarter with $242 million remaining under its repurchase authorization, which it expects to substantially deploy during the remainder of 2026.
Sallie Mae ended the quarter with liquidity equal to 18.6% of total assets. Total risk-based capital was 13.1%, and Common Equity Tier 1 capital was 11.8%.
During the Q&A session, Graham said discussions with a potential second loan sale partner are progressing and could close in the third quarter or early fourth quarter. He said the existing partnership with KKR is performing according to plan and that both KKR and the potential second partner have expressed interest in building capabilities for graduate loan products.
About SLM (NASDAQ:SLM)SLM Corporation, operating as Sallie Mae Bank, is a leading U.S.-based consumer banking company specializing in education financing and related banking products. The company provides a range of private student loans for undergraduate and graduate studies, Parent PLUS loans, and specialized financing for career and certificate programs. In addition to its core lending services, Sallie Mae offers deposit products including savings accounts, checking accounts, money market accounts, certificates of deposit, and credit cards tailored to students and young adults.
Founded in 1972 as the Student Loan Marketing Association—a government-sponsored enterprise—Sallie Mae was privatized in 2004 and has since focused on expanding its private education loan offerings and digital banking solutions.
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Sallie Mae (SLM - Free Report) came out with quarterly earnings of $0.29 per share, missing the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.32 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -36.96%. A quarter ago, it was expected that this student loan company would post earnings of $1.14 per share when it actually produced earnings of $1.54, delivering a surprise of +35.09%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Sallie Mae, which belongs to the Zacks Financial - Consumer Loans industry, posted revenues of $332.82 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 6.31%. This compares to year-ago revenues of $376.82 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Sallie Mae shares have lost about 6.8% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for Sallie Mae?While Sallie Mae has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Sallie Mae was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.40 on $358.27 million in revenues for the coming quarter and $3.16 on $1.45 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Consumer Loans is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Open Lending (LPRO - Free Report) , has yet to report results for the quarter ended June 2026.
This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Open Lending's revenues are expected to be $22.84 million, down 9.8% from the year-ago quarter.
Sallie Mae (SLM - Free Report) reported $332.82 million in revenue for the quarter ended June 2026, representing a year-over-year decline of 11.7%. EPS of $0.29 for the same period compares to $0.32 a year ago.
The reported revenue represents a surprise of -6.31% over the Zacks Consensus Estimate of $355.22 million. With the consensus EPS estimate being $0.46, the EPS surprise was -36.96%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Sallie Mae performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 4.8% versus 5.1% estimated by two analysts on average.Net Interest Income: $332.82 million versus $355.48 million estimated by two analysts on average.Gains (losses) on sales of loans, net: $14.94 million versus $10.57 million estimated by two analysts on average.Other income: $45.35 million versus the two-analyst average estimate of $46.42 million.Total Non-Interest Income: $68.29 million versus $56.98 million estimated by two analysts on average.View all Key Company Metrics for Sallie Mae here>>>
Shares of Sallie Mae have returned +5.8% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today released second quarter 2026 financial results. Complete financial results and related materials are available at www.SallieMae.com/investors. The materials will also be available on the Securities and Exchange Commission's website at www.sec.gov. Sallie Mae will host an earnings conference call today, July 23, 2026, at 5:30 p.m. ET. Executives will be on hand to discuss various highlights of the quarter an.
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today announced a 2026 third-quarter dividend on its Preferred Stock Series B of $1.4393042 per share. The company also announced a 2026 third-quarter dividend on its common stock of $0.13 per share.Both preferred stock and common stock dividends will be paid on Sept. 15, 2026, to the respective stockholders of record at the close of business on Sept. 4, 2026.Sallie Mae (Nasdaq: SLM) believes education and life-lo.
Wall Street analysts expect Sallie Mae (SLM - Free Report) to post quarterly earnings of $0.46 per share in its upcoming report, which indicates a year-over-year increase of 43.8%. Revenues are expected to be $355.22 million, down 5.7% from the year-ago quarter.
Over the last 30 days, there has been an upward revision of 1.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Sallie Mae metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Net Interest Margin' will reach 5.0%. The estimate compares to the year-ago value of 5.3%.
Analysts expect 'Net Interest Income' to come in at $355.48 million. The estimate is in contrast to the year-ago figure of $376.82 million.
It is projected by analysts that the 'Other income' will reach $46.42 million. The estimate is in contrast to the year-ago figure of $29.43 million.
Analysts predict that the 'Total Non-Interest Income' will reach $56.98 million. The estimate compares to the year-ago value of $26.78 million.
View all Key Company Metrics for Sallie Mae here>>>
Shares of Sallie Mae have demonstrated returns of +8.4% over the past month compared to the Zacks S&P 500 composite's +0.3% change. With a Zacks Rank #3 (Hold), SLM is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
The market expects Sallie Mae (SLM - Free Report) to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 23. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis student loan company is expected to post quarterly earnings of $0.47 per share in its upcoming report, which represents a year-over-year change of +46.9%.
Revenues are expected to be $355.22 million, down 5.7% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 18.7% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Sallie Mae?For Sallie Mae, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -14.10%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Sallie Mae will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Sallie Mae would post earnings of $1.14 per share when it actually produced earnings of $1.54, delivering a surprise of +35.09%.
Over the last four quarters, the company has beaten consensus EPS estimates two times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Sallie Mae doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsCapital One (COF - Free Report) , another stock in the Zacks Financial - Consumer Loans industry, is expected to report earnings per share of $5.08 for the quarter ended June 2026. This estimate points to a year-over-year change of -7.3%. Revenues for the quarter are expected to be $15.7 billion, up 25.7% from the year-ago quarter.
The consensus EPS estimate for Capital One has been revised 4.3% higher over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +1.54%.
When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that Capital One will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae® (Nasdaq: SLM), formally SLM Corporation, will release second-quarter 2026 financial results after market close on Thursday, July 23, 2026. A live audio webcast and presentation slides will be available at SallieMae.com/investors and the hosting website. Investors should log in at least 15 minutes prior to the broadcast. The earnings news release will be available at SallieMae.com/investors. A replay will also be available on the site. Sallie Mae (Nasda.
NEW YORK--(BUSINESS WIRE)---- $SLM #cashflowintelligence--Nova Credit, a leading credit infrastructure and analytics company, today announced that Sallie Mae® (Nasdaq: SLM), the leader in private student lending, has selected the Nova Credit's Income Navigator to support income verification as part of its private student loan underwriting process. Income Navigator enables lenders to quickly and accurately verify consumer income, providing a more complete picture of an applicant's financial profile. Sallie Mae will leverage t.
Sallie Mae today announced the launch of a new Parent Loan designed to give families an additional, flexible option to pay for higher education as [url="]feder
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae today announced the launch of a new Parent Loan designed to give families an additional, flexible option to pay for higher education as federal student loan options evolve. The Sallie Mae® Parent Loan allows credit-qualified individuals, including parents, guardians, or significant others, to support the financing of undergraduate and graduate education for students and offers competitive interest rates that can be lower than federal Parent PLUS loans,.
PTC Inc. still has a steady and recurring lifecycle software base with offerings across CAD, PLM, ALM, SLM, and general SaaS workflows. Their newer offerings, like Orbit and Jetstream, also move PTC towards a clearer AI integration path for its products and services. I do believe the sale of Kepware and ThingWorx changed its prospects a bit. In part, it streamlined PTC's business and helped finance stock buybacks.
Key Takeaways SLM Q1 EPS of $1.54 beat estimates and rose 10% y/y.Sallie Mae benefited from lower credit provisions and higher NII despite lower fee income.SLM raised the 2026 EPS outlook to $3.10-$3.20 on loan growth and planned share repurchases. SLM Corporation (SLM - Free Report) reported first-quarter 2026 earnings per share (EPS) of $1.54, beating the Zacks Consensus Estimate of $1.14. The metric rose 10% from the year-ago quarter.
The quarterly results benefited from a rise in net interest income (NII), lower provisions for credit losses, and disciplined decisions across funding, expenses and capital management, partially offset by a decline in non-interest income and an increase in expenses.
The company’s GAAP net income attributable to common stock was $304 million compared with $301 million in the year-ago quarter.
Sallie Mae’s NII & Expenses RiseFirst-quarter NII totaled $375.4 million, up from $374.9 million in the prior-year quarter. The metric beat the Zacks Consensus Estimate by 2.4%.
The quarterly net interest margin was 5.29%, expanding 2 basis points year over year.
Quarterly non-interest income was $185 million, down from $206 million in the year-ago quarter.
Non-interest expenses increased 10.7% year over year to $171 million. Compensation and benefits expenses rose 13.9% year over year to $103 million. Other operating expenses were $62 million, up 24.1% year over year.
SLM’s Credit Quality MixedIn the first quarter, the company reported provision benefits of $11 million, in contrast to provisions for credit losses of $23 million in the prior-year quarter.
Net charge-offs were $89 million in the reported quarter.
Delinquencies as a percentage of loans in repayment were 3.98% for the first quarter of 2026 compared with 3.58% in the prior-year quarter.
Loans in a hardship forbearance were 0.99% for the reported quarter compared with 0.92% in the year-ago quarter.
Sallie Mae’s Balance Sheet PositionAs of March 31, 2026, deposits totaled $20.5 billion, up from $20.1 billion in the year-ago quarter.
Private education loans held for investment, net, were $19.9 billion, down from $21.1 billion in the prior-year quarter.
Average loans outstanding, net, totaled $23.3 billion in the quarter. In the reported quarter, private education loan originations increased 5% year over year.
Key Ratios of SLMThe efficiency ratio was 30.6% compared with 26.6% in the year-ago quarter.
Return on assets was 4.2%, stable with the prior-year quarter.
Return on common equity was 56.4% compared with 60.1% in the year-ago quarter.
Sallie Mae Lifts 2026 Outlook as Growth Initiatives ExpandManagement raised the 2026 EPS guidance to $3.10-$3.20 (previous guidance was $2.70-$2.80). The updated view assumes full utilization of the $500-million share repurchase authorization in 2026 and roughly $1 billion of incremental loan sales beyond the initial plan.
Other elements of the company’s 2026 outlook were reaffirmed. Sallie Mae continues to expect year-over-year private education loan origination growth of 12-14%, net charge-offs of $345-$385 million and non-interest expenses of $750-$780 million. Executives also reiterated that the firm is preparing for expected multi-year growth tied to federal reforms affecting graduate lending, while continuing to build partnership capacity to support future flow sales.
Final Thoughts on SLMSallie Mae delivered a decent first-quarter performance, supported by stable NII, lower provisions for credit losses and strong loan sales. Growth in private education loan originations and continued capital deployment remain positives. However, higher expenses, a decline in non-interest income and elevated delinquency levels warrant close monitoring going forward.
SLM Corporation Price, Consensus and EPS Surprise
Currently, SLM carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance & Earnings Expectations of SLM’s PeersAlly Financial’s (ALLY - Free Report) first-quarter 2026 adjusted earnings of $1.11 per share surpassed the Zacks Consensus Estimate of 93 cents. The bottom line reflected a 90% jump from the year-ago quarter.
Results primarily benefited from a rise in net financing revenues and a sharp increase in other revenues. Lower expenses and an increase in loan and deposit balances were tailwinds for ALLY. However, a rise in provisions was an undermining factor.
Navient (NAVI - Free Report) is scheduled to announce first-quarter 2026 results on April 29.
Over the past seven days, the Zacks Consensus Estimate for NAVI’s quarterly earnings has been unchanged at 17 cents. This implies a 39.3% decline from the prior-year quarter’s actual.
Chief Financial Officer Peter Graham and Chief Operational Officer Kerri Palmer Named Co-Presidents of the Company
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae® (Nasdaq: SLM), formally SLM Corporation, today announced it has named Chief Financial Officer Peter Graham and Chief Operational Officer Kerri Palmer Co-Presidents of the company. Reporting to Chief Executive Officer Jon Witter, Graham and Palmer will partner to ensure alignment and execution of the company’s strategy. Graham and Palmer collectively oversee the company’s commercial businesses within their respective areas of responsibility, following the recent retirement of the company’s Chief Commercial Officer.
Graham has served as Executive Vice President and Chief Financial Officer since 2023 overseeing finance, accounting, and treasury activities, as well as equity and fixed-income investor relations. As Co-President and Chief Financial Officer, Graham will also oversee strategic partnerships and emerging lines of business.
Palmer has served as Executive Vice President, Chief Operational Officer, and President of Sallie Mae Bank since 2023. She previously served as Chief Risk Officer and Chief Risk and Compliance Officer for the company. As Co-President and Head of Financial Services, Palmer will lead the company’s core private education loan business as well as credit and operations.
“Pete and Kerri are exceptional leaders with deep experience who are helping drive our strong performance and disciplined growth strategy,” said Jon Witter, Chief Executive Officer, Sallie Mae. “As CEO, I remain fully focused on leading the company, and these appointments will further strengthen our ability to execute our strategy with depth and continuity as we deliver for our customers and shareholders.”
The appointments of Graham and Palmer as Co-Presidents reflect the company’s continued commitment to providing growth opportunities for its leaders to support the organization’s long-term success.
For more information visit www.salliemae.com.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
SLM Corporation (SLM) trades at a low 6.6x P/E, despite strong Q1 2026 results, high ROE, and dominant private student loan market share. Q1 2026 EPS beat at $1.54, with management raising full-year guidance to $3.10–$3.20, supported by a 5.29% net interest margin and aggressive capital returns. Rising overdue loans (3.98% vs. 3.58% YoY) and higher provisions highlight growing credit risk, partially masked by one-time reserve releases from loan sales.
When Chris Gray sold his Shark Tank-backed scholarship search startup Scholly to Sallie Mae in 2023, he thought he had it all. Now he’s suing the student loan giant for wrongful termination and alleging that it’s selling the data his app collected, which includes personal info on minors, without properly informing users.
Gray co-founded the company a decade prior with the hope of helping students more easily find college scholarships that were going untapped. Within two years, he nabbed sharks Daymond John and Lori Greiner as investors after an appearance on the show.
With the acquisition, Gray became one of the few Black venture-backed fintech founders to exit their company, despite receiving some blowback that he was “selling out.” “I think being one of the first Black tech companies to get acquired by a bank, that’s really a big achievement,” he said at the time.
He took a vice president role at Sallie Mae and expected to settle in nicely at his new gig, while helping scale Scholly and making it free to use, he said in an exclusive interview with TechCrunch.
What happened next is detailed in Gray’s lawsuit against Sallie Mae in Delaware Superior Court, and in a whistleblower complaint he submitted to the Securities and Exchange Commission, both of which he filed earlier this month.
He alleges Sallie Mae laid off his employees, including his co-founders, and then went back on promises that it wouldn’t sell the users’ data, according to a TechCrunch review of both filings. He claims the company fired him a year after the acquisition when he tried to raise concerns about data privacy issues. Gray is seeking backpay and punitive damages in the suit, plus legal costs.
Gray told TechCrunch that before he agreed to the sale, he believed Sallie Mae would be prohibited from disclosing or selling non-public personal information about Scholly customers to third parties because it was a federally regulated financial institution.
Now he alleges that his acquirer got around any such regulations by putting Scholly into a subsidiary that is selling the data — including age, gender, race, and other indicators of an individual’s financial need — to third parties like universities and advertisers, possibly without students’ full awareness.
“I sold Scholly to a regulated bank because I believed it would protect the students who trusted us,” Gray told TechCrunch. “Instead, I watched the company build a non-bank subsidiary to do things the bank itself can’t legally do: sell student data. That’s not the company I thought I was joining.”
Sallie Mae denied Gray’s allegations, calling them “without merit” and declined to answer TechCrunch’s questions about its data privacy practices.
“While we don’t comment on pending litigation, it’s unfortunate a former employee is making false accusations about our company following his departure nearly two years ago. We plan to vigorously defend ourselves against these claims which are without merit or substance,” Rick Castellano, the company’s vice president of corporate communications, said in an email.
Asked which specific accusations were “false,” Castellano declined to comment.
From Alabama to Shark Tank Gray grew up low-income in Birmingham, Alabama, with a single mother and two siblings. He felt the barriers to higher education were “real and immediate” for someone like him.
Aside from being expensive, he felt he lacked access to information to help him make proper decisions about where to go and how to afford it, a pressure that only compounded after his mother lost her job in the 2008 recession.
“That experience shaped how I thought about the scholarship system later,” he recalled, saying he began to view education and scholarship as “a problem of access rather than a problem of merit.”
As a teenager, when the time came for him to apply for scholarships, he found the process fragmented and inefficient, he said. There was no centralized search for him to find opportunities, and when he did find a website with scholarship options, there were thousands of listings, but no reliable way to filter to see what he was actually eligible for. Not to mention the scams and outdated listings that persisted on some sites.
Still, he applied to about 75 scholarships over the course of seven months using public computers and the internet at the library, and won around $1.3 million in scholarship funding, including from the Bill and Melinda Gates Foundation and the Coca-Cola Scholars Foundation.
He studied economics and entrepreneurship at Drexel University and met students facing a familiar roadblock. “Students kept asking for help finding scholarships,” he told TechCrunch. “The funding existed with hundreds of millions of dollars unclaimed each year, but the search process was broken.”
He started mapping out the eight core criteria that determined scholarship eligibility — age, location, major, GPA, race, gender, field of study, and financial need.
“That became the foundation of Scholly’s matching algorithm,” he said.
During his senior year, Gray, alongside Nick Pirollo and Bryson Alef, whom he met as Coca-Cola Scholars, officially launched Scholly in 2013. For just $0.99 a month, students could use the platform and filter by eligibility criteria. “That price kept the business sustainable without having to sell data or run ads,” he said.
Scholly switched to a freemium model after Gray pitched the idea on Shark Tank. The sharks clamored over his idea in what became the “worst fight in Shark Tank history,” according to one of the hosts who invested. Scholly grew to 5 million users and made more than $30 million in cumulative revenue, Gray said.
In March of 2023, Sallie Mae’s corporate development team reached out to Scholly. The bank had just bought the scholarship organization Nitro College a year prior and was trying to move more into the scholarship and college-planning space. “It was a natural fit,” Gray said, of why the student loan institution wanted Scholly.
Sallie Mae bought Scholly in July 2023, brought Gray and his co-founders on board as employees, and made Gray a vice president of product management.
In addition to promising that it would “make Scholly free for all students, families, and other users,” Sallie Mae CEO Jon Witter said in 2023 that the acquisition “allows us to harness and build on Scholly’s innovative technology to unlock future strategic growth opportunities.”
Sallie Mae vs. “Sallie” For Gray, the canary in the coal mine came one year after Scholly’s acquisition.
He alleges in the suit that Sallie Mae laid off the Scholly founding team, including his co-founders, in July 2024. Around this same time, Gray claims he heard Sallie Mae executives discuss plans for selling Scholly user data in meetings.
Gray alleges executives told him his position was safe, and that the company was just restructuring. But when he went on to raise further concerns about the possible selling of Scholly data, he claims in his suit he was fired before a scheduled meeting with Witter, the CEO, where he planned to discuss those issues.
After his departure, around December 2024, Sallie Mae launched “Sallie.com.” This website describes itself as an “education solutions company,” and became home to the Scholly platform. It is separate from the website for Sallie Mae, which is home to the bank that makes student loans.
The Sallie.com website says it’s owned by an entity called SLM Education Services, LLC. Gray contends in his lawsuit and whistleblower complaint that Sallie Mae is using SLM Education Services in order to sell the personal data collected by Scholly, since it is not a closely regulated financial services company like the Sallie Mae banking arm.
Sallie.com discloses that it sells the following customer data in its privacy policy to third parties: name, phone number, email addresses, age, race, gender, education records, and geolocation data. The third parties it sells this information to, it says, include ad networks, educational institutions, brands, and companies dedicated to reselling consumer data.
Sallie Mae also pays Sallie “for the referrral of student loan customers,” according to the Sallie.com “About” page.
Gray argues in his complaints that the Sallie.com website may be easily confused with the official Sallie Mae website because of similar layouts and “sallie” logos, increasing the risk that students may hand over personal data to what they believe to be a bank.
Gray’s suit goes on to allege that Sallie Mae used Scholly user data to create something called Backpack Media in March, which it bills as a “first-to-market education media network” that “offers brands efficient, scalable access to highly desirable, hard to reach audiences – Gen Z, Gen Alpha, and those involved in their purchasing decisions,” according to a Sallie press release.
Castellano declined to comment on Backpack Media’s sources for data.
This would not be the first time a Salle Mae-affiliated company has been accused of deceptive or misleading behavior.
A company called Navient, which split from Sallie Mae in 2014, has faced restitution orders from the Federal Deposit Insurance Corporation, Department of Justice, and the Department of Education for overcharges. It was sued by the Consumer Financial Protection Bureau and reached a $1.85 billion settlement with 39 attorneys general for over what the attorneys general described as predatory student loans.
Gray said he knew of these past legal issues, but that he doesn’t regret the sale of Scholly as it helped make the platform free for every student. In fact, he said if he could, he would make the same decision to sell all over again.
“But I’d also raise the same concerns again,” he said. “Because I believe we should live in a system where an executive can speak up and change the course of a company in line with the law and fair business practices.”
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Key Takeaways ENVA plans to acquire Grasshopper to add a national bank charter and expand lending and deposit reach.ENVA could lower funding costs by 300 to 400 bps using deposits, improving margins and flexibility.ENVA targets $175 to $230M revenue synergies in two years, with over 15% EPS accretion expected in year one. Enova International, Inc. (ENVA - Free Report) is trying to reshape its model with the planned acquisition of Grasshopper. The logic is straightforward: pair Enova’s online lending engine with a digital-first bank platform and bring a national bank charter into the mix.
If approvals come through and integration goes as planned, the deal could lower funding costs, widen product reach, and lift earnings power.
The path is not linear, though, and near-term expense and credit trends still matter.
ENVA’s Grasshopper Plan Adds a National Bank AngleStructurally, the transaction aims to combine Enova’s established online lending capabilities with Grasshopper’s digital-first banking infrastructure. That pairing is designed to create a tighter link between loan origination and a bank-based funding and deposit platform.
The national bank charter is the big unlock. It is expected to broaden access to both lending and deposit products, giving Enova more flexibility in how it funds loans and how it serves customers across the country.
Enova’s Funding Costs Could Improve With DepositsA key trend implication is the potential reset in Enova’s funding stack. Grasshopper’s deposit base is estimated to be 300–400 basis points cheaper than Enova’s existing securitization funding, which could materially change unit economics.
Lower funding costs typically allow a lender to price more competitively while maintaining returns, or to hold pricing steady and expand margins. Either way, cheaper deposits can improve balance-sheet flexibility by reducing reliance on capital markets timing and securitization conditions.
ENVA’s Synergy Targets Are Material in Two YearsManagement’s synergy targets are sizable relative to the scale of the move. The expectation is for revenue synergies of $175–$230 million within two years after close, with adjusted earnings per share accretion expected to exceed 15% in year one and rise beyond 25% as synergies mature.
Those figures create a clear “potential if executed” setup. The market will likely weigh these targets against integration complexity, the pace of deposit growth, and the time it takes to translate expanded product capacity into measurable originations and revenue.
ENVA’s Timeline and Approval Risk Are Part of the StoryThe timeline is not fully in management’s control. The deal is subject to regulatory approvals, including the Office of the Comptroller of the Currency and the Federal Reserve, as well as Grasshopper shareholder approval.
Closing is anticipated in the second half of 2026. Until those milestones are cleared, the market may treat synergy targets and funding benefits as probabilistic rather than assured, especially given the centrality of the charter and deposit platform to the strategic case.
The deal also comes with an investment phase, and the early signs are already visible. Acquisition-related expenses showed up in the first quarter of 2026, including $2.7 million of pre-tax costs tied to the transaction.
Expense ratios also remain elevated, with marketing, operations, technology, and general and administrative expense guidance for the second quarter signaling continued intensity. The core question for investors is whether this spending ultimately converts into sustained deposit traction, product expansion, and measurable synergy capture.
Enova’s What-To-Watch List as the Deal ProgressesThe first checkpoint is regulatory progress and the sequencing of required approvals. Clear milestones, timely filings, and transparent updates can reduce uncertainty around the closing window.
Next is evidence of funding mix improvement. Investors will want to see whether deposits begin to play a larger role and whether the implied 300–400 basis point cost advantage translates into reported funding costs and stronger lending economics.
Originations will be another key indicator, particularly as the product suite expands and the company tests broader reach across states and customer segments. Finally, watch whether expense intensity moderates as integration work stabilizes and whether early revenue synergies begin to show up in performance, validating the longer-term earnings accretion pathway.
ENVA’s Zacks Rank and Price PerformanceENVA carries a Zacks Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Enova shares gained 74.4% in the past year compared with the industry’s rise of 34.7%.
Price Performance
Image Source: Zacks Investment Research
ENVA Peers Efforts to Expand InorganicallyCapital One’s (COF - Free Report) opportunistic buyouts over the years have been driving its revenues. In January 2026, it announced a deal to acquire Brex for $5.15 billion, which is expected to be closed in the middle of 2026. In May 2025, COF acquired Discover Financial in an all-stock transaction valued at $35.3 billion, reshaping the landscape of the credit card industry, creating a behemoth and unlocking substantial value for shareholders (the deal is expected to be more than 15% accretive to adjusted EPS by 2027).
Sallie Mae (SLM - Free Report) has made efforts to expand its business operations on the back of investments in varied product offerings and inorganic activities. In 2023, the company acquired several vital assets, technology, intellectual property, and the experienced staff of Scholly, a scholarship publishing and servicing platform. In 2022, Sallie Mae closed the deal with Epic Research LLC to acquire a digital marketing and education solutions company, Nitro College. Such inorganic moves are likely to aid SLM in becoming a holistic education solutions provider for students and drive loan originations for the company.
Complaint alleges Sallie Mae established a plan and scheme to circumvent federal data-privacy protections related to the use and disclosure of student data, and retaliated against the executive who reported it.
, /PRNewswire/ -- Christopher Gray, founder of scholarship-matching platform Scholly and current CEO of AI test-prep platform Path, has filed a whistleblower and data-privacy lawsuit against SLM Corporation (NASDAQ: SLM), the parent company of Sallie Mae Bank, and its non-bank subsidiary SLM Education Services, LLC, in Delaware Superior Court. The complaint alleges that Sallie Mae built a deliberate corporate structure to sell the personal data of millions of students, including minors, while evading the federal privacy law that would otherwise prohibit it.
Two SLM websites comparison At the heart of the complaint is a two-entity structure. Salliemae.com is operated by Sallie Mae Bank, a federally regulated, FDIC-insured bank covered by the Gramm-Leach-Bliley Act (GLBA), which prohibits banks from selling nonpublic personal financial information. Sallie.com website is almost identical, holds the same branding, including logo and brand colors, but is operated by a different entity: SLM Education Services, LLC, a non-bank subsidiary not subject to those restrictions. Sallie.com's publicly posted privacy policy states, in the company's own words, that it "sells" and "shares" personal information, including sensitive personal information, for advertising and marketing purposes.
The complaint alleges this architecture was designed to circumvent GLBA, which prohibits a financial institution from disclosing nonpublic personal information to nonaffiliated third parties, directly or through any affiliate.
The impact of this scheme reaches millions of users. On March 4, 2026, Sallie Mae publicly launched Backpack Media, an advertising platform operated through SLM Education Services. Its marketing materials offer brands access to an audience of "8.5 million students, families, and young professionals", most of them are minors looking for student loans and scholarships.
Gray has also filed a formal whistleblower complaint with the U.S. Securities and Exchange Commission's Office of the Whistleblower regarding the matters at issue in the litigation. By making these filings, Gray is protected under the anti-retaliation provisions of the Delaware Whistleblowers' Protection Act and Section 21F of the Securities Exchange Act, as amended by the Dodd-Frank Act. Any further retaliatory conduct by Sallie Mae, including continued pressure on Gray, his current company, or his former Scholly shareholders, is itself actionable under both statutes and subject to additional federal and state penalties.
Sallie Mae acquired Scholly in June 2023, and Gray joined the company as a senior executive. According to the complaint, he discovered the data-monetization plan and raised concerns internally. Executives knew Gray was planning to bring those concerns directly to Sallie Mae CEO Jon Witter at a breakfast meeting scheduled through the CEO's office. He was abruptly terminated before that meeting could take place.
After the termination, Sallie Mae's Chief Legal Officer, Nicholas Jafarieh, met with Gray's counsel. According to the complaint, he admitted the company "handled [Gray's] termination wrong." In the same meeting, he warned that Gray did not "want to make an enemy" of the company.
As alleged in the complaint, in the lead-up to the filing, Sallie Mae made repeated threats to compel Gray's claims into private, confidential arbitration to keep the allegations off the public record. When that pressure failed and Gray filed his complaint in open court on April 13, the company escalated in a different direction. Its outside counsel sent a demand letter to Gray's former Scholly shareholders and explicitly tied a threat of financial clawback to Gray's communications with the press.
"I built Scholly to help students access money for college, not to help a bank sell their personal information to advertisers," Gray said. "When I saw what was happening inside Sallie Mae, I reported it. What followed was a campaign to keep the matter out of public view — their response was to fire me, threaten me, and try to silence me. Sallie Mae borrowers and employees are typically bound by mandatory arbitration agreements that keep disputes out of open court. This case is different as I'm protected, I can speak and I will."
The complaint is a matter of public record in Delaware Superior Court. A copy is available upon request.
Christopher Gray is the founder of Scholly, a scholarship-matching platform that grew to 5 million users and helped students access more than $100 million in scholarship funding. Gray appeared on ABC's Shark Tank in 2015 and 2024 and was named to the Forbes 30 Under 30 list. Originally from Birmingham, Alabama, Gray won approximately $1 million in scholarships to attend college which inspired him to create Scholly. He is currently the founder and CEO of Path, an AI-powered test-prep platform for K-12 students. He is represented in this matter by Allen and Associates.
Path is an AI-powered test prep platform founded by Christopher Gray. The platform offers AI-driven test preparation for K-12 state exams, college admissions, and professional certifications.
Grant from The Sallie Mae Fund Will Expand Scholarship Access for Military Families
NEWARK, Del.--(BUSINESS WIRE)--In recognition of Military Appreciation Month, The Sallie Mae Fund today announced a contribution of $50,000 to Folds of Honor, a nonprofit organization dedicated to providing educational scholarships to the spouses and children of America’s fallen and disabled service members.
“The generosity of partners like Sallie Mae is what makes our mission possible,” said Allen Wronowski, regional impact officer, Folds of Honor. “Every scholarship we award is a direct result of organizations that believe, as we do, that children and spouses of our nation’s heroes deserve the chance to succeed. This contribution will make a real and lasting difference in the lives of military families across America.”
Since 2014, The Sallie Mae Fund has contributed a total of $635,000 to Folds of Honor, funding more than 100 scholarships for military families pursuing higher education nationwide.
“Our mission is grounded in expanding access to higher education and supporting student success,” said Nic Jafarieh, executive vice president, Sallie Mae. “The important work of Folds of Honor not only opens doors to higher education for deserving students but also serves as a powerful tribute to the servicemembers who made the ultimate sacrifice for our country. We are proud to continue to support those efforts.”
Sallie Mae’s commitment to veterans and service members extends beyond charitable giving. During Military Appreciation Month this May, team members will volunteer their time to support the Wilmington, Del. VA Medical Center. The company also employs a dedicated team of specially trained customer service advisors who work exclusively with military families to provide personalized support.
In addition, Sallie Mae offers free tools, resources, and access to scholarships to support veterans and military-connected students as they plan and pay for higher education.
Learn more at www.salliemae.com.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Shares of Sallie Mae (SLM - Free Report) have gained 5.8% over the past four weeks to close the last trading session at $22.99, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $28.82 indicates a potential upside of 25.4%.
The mean estimate comprises 11 short-term price targets with a standard deviation of $3.66. While the lowest estimate of $22.00 indicates a 4.3% decline from the current price level, the most optimistic analyst expects the stock to surge 52.2% to reach $35.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
But, for SLM, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why SLM Could Witness a Solid UpsideThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current year, five estimates have moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 14%.
Moreover, SLM currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much SLM could gain, the direction of price movement it implies does appear to be a good guide.
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae® (Nasdaq: SLM), formally SLM Corporation (“SLM” or the “Company”) announced today the commencement of a cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 3.125% senior notes (the “Notes”) upon the terms and conditions described in the Company’s Offer to Purchase, dated May 6, 2026 (the “Offer to Purchase”).
Certain information regarding the Notes and the U.S. Treasury Reference Security, the Bloomberg reference page and the fixed spread is set forth in the table below.
Title of
Security
CUSIP/ISIN
Number
Principal
Amount
Outstanding
U.S. Treasury
Reference
Security
Bloomberg
Reference
Page
Fixed
Spread
(basis
points)
3.125% Senior
Notes due
2026(1)
78442P GE0 /
US78442PGE07
$500,000,000
4.125% U.S. Treasury due October 31, 2026
FIT 3
+25
The “Purchase Price” for each $1,000 principal amount of the Notes validly tendered, and not validly withdrawn, and accepted for purchase pursuant to the Tender Offer will be determined in the manner described in the Offer to Purchase by reference to the fixed spread specified above plus the yield based on the bid-side price of the U.S. Treasury Reference Security specified above, as quoted on the Bloomberg Bond Trader FIT 3 series of pages, at 2 p.m. New York City time, on May 12, 2026, the date on which the Tender Offer is currently scheduled to expire. The Purchase Price will be based on a yield to Nov. 2, 2026, the maturity date of the Notes, and assuming the Notes mature on such date, as described in the Offer to Purchase.
In addition to the Purchase Price, holders whose Notes are purchased pursuant to the Tender Offer will also receive accrued and unpaid interest thereon from the last interest payment date up to, but not including, the initial date on which the Company makes payment for such Notes, which date is currently expected to be May 15, 2026, assuming that the Tender Offer is not extended or earlier terminated.
The Tender Offer is being made pursuant to the terms and conditions contained in the Offer to Purchase and Notice of Guaranteed Delivery, copies of which may be obtained from D.F. King & Co., Inc., the tender agent and information agent for the Tender Offer, by calling (888) 626-0988 or, for banks and brokers, (212) 269-5550. Copies of the Offer to Purchase and Notice of Guaranteed Delivery are also available at the following web address: www.dfking.com/slm; or by requesting via email at [email protected].
The Tender Offer will expire at 5 p.m., New York City time, on May 12, 2026, unless extended or earlier terminated (such time and date, as the same may be extended, the “Expiration Time”). Tendered Notes may be withdrawn at any time before the Expiration Time. Holders of Notes must validly tender and not validly withdraw their Notes (or comply with the procedures for guaranteed delivery) before the Expiration Time to be eligible to receive the consideration for their Notes.
Settlement for all Notes tendered prior to the Expiration Time or pursuant to a Notice of Guaranteed Delivery is expected to be May 15, 2026, assuming that the Tender Offer is not extended or earlier terminated.
There can be no assurance that any Notes will be purchased. The Tender Offer is being made in connection with a contemporaneous offering of senior debt securities by the Company on terms and conditions (including, but not limited to, the amount of proceeds raised in such offering) satisfactory to the Company (the “New Notes Offering”). The Tender Offer is not conditioned upon any minimum amount of Notes being tendered. The Tender Offer may be amended, extended, terminated or withdrawn. Proceeds from the New Notes Offering will be used to repurchase Notes pursuant to the Tender Offer. The Tender Offer is conditioned upon, among other things, the completion of the New Notes Offering, and no assurance can be given that the New Notes Offering will be completed.
The Company expects to repay any Notes not tendered and accepted for purchase pursuant to the Tender Offer at their maturity. Subject to the completion of the New Notes Offering and the consummation of the Tender Offer, the Company expects to deposit with Deutsche Bank National Trust Company, as trustee funds sufficient to repay at their maturity the Notes not tendered and accepted for purchase pursuant to the Tender Offer, and thereby satisfy and discharge the indenture governing the Notes, as it applies to the Notes, shortly after the Settlement Date. The Company has retained J.P. Morgan Securities LLC to serve as the exclusive Dealer Manager for the Tender Offer. Questions regarding the terms of the Tender Offer may be directed to J.P. Morgan Securities LLC, Liability Management Desk, U.S. toll free at (866) 834-4666 or collect at (212) 834-7489.
This press release is neither an offer to purchase nor a solicitation of an offer to sell any Notes in the Tender Offer and does not constitute a notice of redemption for the Notes.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “would,” “continue,” “seek,” “target,” “guidance,” “outlook,” “if current trends continue,” “optimistic,” “forecast,” “medium term,” “long term,” and other similar words. Such statements include, but are not limited to, statements about SLM’s (together with its subsidiaries, “Sallie Mae”) plans, objectives, expectations, intentions, estimates and strategies for the future, and other statements that are not historical facts. These forward-looking statements are based on Sallie Mae’s current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, among others, those set forth in Item 1A. “Risk Factors” and elsewhere in the SLM’s most recently filed Annual Report on Form 10-K, and other risks and uncertainties discussed from time to time in the SLM’s other filings with the Securities and Exchange Commission. Additionally, there may be other factors of which Sallie Mae is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. Sallie Mae does not assume any obligation to publicly update, revise, or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements that occur after the date such statements were made. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement. In light of these risks, uncertainties, and assumptions, you should not put undue reliance on any forward-looking statements herein.
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae® (Nasdaq: SLM), formally SLM Corporation, announced that it priced its public offering of $500 million aggregate principal amount of 6.495% Fixed-to-Floating Rate Senior Notes due 2032 (the “Senior Notes”) at par.
J.P. Morgan Securities LLC and Barclays Capital Inc. are acting as joint book-running managers. BofA Securities, Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, and RBC Capital Markets, LLC are acting as co-managers. The Senior Notes are expected to be issued on May 15, 2026, subject to customary closing conditions. SLM Corporation intends to use the net proceeds from the offering to fund the purchase of up to $500 million in aggregate principal amount of its 3.125% notes due 2026 (“2026 Notes”) accepted for purchase pursuant to the tender offer announced earlier today (“Tender Offer”), together with accrued and unpaid interest, and the payment of related fees and expenses. To the extent any net proceeds remain after the consummation of the Tender Offer, SLM Corporation intends to use such net proceeds to repay at their maturity any 2026 Notes that remain outstanding after the Tender Offer.
SLM Corporation has filed a registration statement (including a base prospectus and preliminary prospectus supplement dated May 6, 2026 (“Preliminary Prospectus Supplement”)) with the SEC for the Senior Notes offering, which registration statement became automatically effective upon filing on July 31, 2024. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, any underwriter or any dealer participating in the offering will arrange to send you the base prospectus and Preliminary Prospectus Supplement if you request it by calling J.P. Morgan Securities LLC at 1-212-834-4533 or by calling Barclays Capital Inc. at 1-888-603-5847.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering of the Senior Notes may be made only by means of a prospectus supplement and accompanying base prospectus relating to this offering.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “would,” “continue,” “seek,” “target,” “guidance,” “outlook,” “if current trends continue,” “optimistic,” “forecast,” “medium term,” “long term,” and other similar words. Such statements include, but are not limited to, statements about SLM Corporation’s (together with its subsidiaries, “Sallie Mae”) plans, objectives, expectations, intentions, estimates and strategies for the future, and other statements that are not historical facts. These forward-looking statements are based on Sallie Mae’s current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, among others, those set forth in Item 1A. “Risk Factors” and elsewhere in the SLM Corporation’s most recently filed Annual Report on Form 10-K, and other risks and uncertainties discussed from time to time in the SLM Corporation’s other filings with the Securities and Exchange Commission. Additionally, there may be other factors of which Sallie Mae is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. Sallie Mae does not assume any obligation to publicly update, revise, or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements that occur after the date such statements were made. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement. In light of these risks, uncertainties, and assumptions, you should not put undue reliance on any forward-looking statements herein.
Company Offers Competitive Interest Rates, No Origination Fees, and Multiple Repayment Options Ahead of Changes to Federal Student Loan Program
Expanded Access to Graduate and Law Loans Follow Recent Enhancements to Medical School and Dental School Financing Options
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae (Nasdaq: SLM) today announced expanded access to responsible financing for students pursuing graduate and law degrees. The Sallie Mae ® Graduate Loan and Sallie Mae ® Law School Loan offer competitive interest rates, no origination fees, and multiple repayment options during school, and can cover up to 100% of the school-certified cost of attendance.
“Students pursuing advanced degrees need a financing partner they can rely on, especially as they navigate changes to federal student loan programs,” said Patrick Freeman, Senior Vice President, Sallie Mae.
Share Graduate and professional programs vary in cost, length, and structure, and many students rely on borrowing to fill gaps after scholarships, grants, and federal financial aid. Sallie Mae has made enhancements so that more qualified students may access funding and designed its graduate and law school loans to help students cover school costs, including tuition, fees, and living expenses. These enhancements build on Sallie Mae’s market-leading graduate-degree loan options, including recent updates to its Medical School Loan and Dental School Loan.
Graduate and Law School Loans Designed for Advanced Degree Programs and Timelines
Sallie Mae’s Graduate Loan and Law School Loan share core features, including:
Ability to prequalify with no impact on credit scores, allowing students to check eligibility and receive an estimated rate before applying. Repayment flexibility, including up to 12 months of interest-only payments, allowing students to ease into repayment as they transition into their careers. Cosigner release option, allowing qualified borrowers to apply for cosigner release after meeting graduation, on-time payment, and other eligibility requirements. Dedicated graduate and professional student support teams, with experience supporting advanced degree timelines and requirements. 100% U.S.-based loan servicing, providing support from application through repayment. Graduate Loan Options for a Range of Programs
The Sallie Mae Graduate Loan supports students pursuing master’s, doctoral, and professional degrees, as well as select graduate certificate programs at participating schools. The loan offers a six‑month grace period after graduation and up to 48 months of deferment for qualifying internships, residencies, or fellowships, giving students time and flexibility before full payments begin.
Law School Loan Features Designed for Legal Education and Bar Preparation
The Sallie Mae Law School Loan is built specifically for the law school journey, recognizing the unique costs and career timelines law students face, from coursework and clerkships to bar exam preparation. Repayment terms include a nine‑month grace period after graduation and up to 48 months of deferment for qualifying clerkships or internships. Qualifying law students may also apply for the Sallie Mae® Bar Study Loan to help cover bar exam preparation costs.
“Students pursuing advanced degrees need a financing partner they can rely on, especially as they navigate changes to federal student loan programs,” said Patrick Freeman, Senior Vice President, Sallie Mae. “We’ve long been a trusted name in responsible student financing, and we’re well prepared to support more students with options to help them confidently access and complete their graduate education programs.”
How Sallie Mae Supports Graduate Student Success Beyond Financing
In addition to responsible private student loans and savings products, Sallie Mae offers free tools and guidance through Sallie to help students and families navigate the higher education journey with confidence. Sallie represents the broader brand that brings those financial products together with a growing set of resources to support students and families at every step, from planning and saving to paying for school, including:
The $5,000 Graduate School No Essay Scholarship, awarded quarterly through a short application. Scholly ® Scholarship Search, which helps students find and apply for scholarships aligned with their background and goals, including nearly 2,000 scholarships for graduate students. The Bridging the Dream Scholarship for Graduate Students, available June 1 and offered through The Sallie Mae Fund, which will award 20 scholarships this year worth $200,000. To learn more about Sallie Mae’s graduate and professional school loan options, visit SallieMae.com.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae® (Nasdaq: SLM), formally SLM Corporation (“SLM” or the “Company”), announced today the pricing terms of its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 3.125% senior notes (the “Notes”) upon the terms and conditions described in the Company’s Offer to Purchase, dated May 6, 2026 (the “Offer to Purchase”).
Set forth in the table below is the purchase price (the “Purchase Price”) for the Notes, as calculated at 2 p.m., New York City time, on May 12, 2026, in accordance with the Offer to Purchase:
Title of Security
CUSIP/ISIN Number
Principal Amount Outstanding
U.S. Treasury
Reference Security
Bloomberg Reference Page
Reference Yield
Fixed Spread (basis points)
Purchase Price
3.125% Senior Notes due 2026(1)
78442P GE0 / US78442PGE07
$500,000,000
4.125% U.S. Treasury due October 31, 2026
FIT 3
3.786%
+25
$995.83
In addition to the Purchase Price, holders whose Notes are purchased pursuant to the Tender Offer will also receive accrued and unpaid interest thereon from the last interest payment date up to, but not including, the settlement date on which the Company makes payment for such Notes, which date is currently expected to be May 15, 2026, assuming that the Tender Offer is not extended or earlier terminated.
The Tender Offer is being made pursuant to the terms and conditions contained in the Offer to Purchase and Notice of Guaranteed Delivery, copies of which may be obtained from D.F. King & Co., Inc., the tender agent and information agent for the Tender Offer, by calling (888) 626-0988 or, for banks and brokers, (212) 269-5550. Copies of the Offer to Purchase and Notice of Guaranteed Delivery are also available at the following web address: www.dfking.com/slm; or by requesting via email at [email protected].
The Tender Offer will expire at 5 p.m., New York City time, on May 12, 2026, unless extended or earlier terminated (such time and date, as the same may be extended, the “Expiration Time”). Tendered Notes may be withdrawn at any time before the Expiration Time. Holders of Notes must validly tender and not validly withdraw their Notes (or comply with the procedures for guaranteed delivery) before the Expiration Time to be eligible to receive the consideration for their Notes.
Settlement for all Notes tendered prior to the Expiration Time or pursuant to a Notice of Guaranteed Delivery is expected to be May 15, 2026, assuming that the Tender Offer is not extended or earlier terminated.
There can be no assurance that any Notes will be purchased. The Tender Offer is being made in connection with a contemporaneous offering of senior debt securities by the Company on terms and conditions (including, but not limited to, the amount of proceeds raised in such offering) satisfactory to the Company (the “New Notes Offering”). The Tender Offer is not conditioned upon any minimum amount of Notes being tendered. The Tender Offer may be amended, extended, terminated or withdrawn. Proceeds from the New Notes Offering will be used to repurchase Notes pursuant to the Tender Offer. The Tender Offer is conditioned upon, among other things, the completion of the New Notes Offering, and no assurance can be given that the New Notes Offering will be completed.
The Company expects to repay any Notes not tendered and accepted for purchase pursuant to the Tender Offer at their maturity. Subject to the completion of the New Notes Offering and the consummation of the Tender Offer, the Company expects to deposit with Deutsche Bank National Trust Company, as trustee funds sufficient to repay at their maturity the Notes not tendered and accepted for purchase pursuant to the Tender Offer, and thereby satisfy and discharge the indenture governing the Notes, as it applies to the Notes, shortly after the Settlement Date. The Company has retained J.P. Morgan Securities LLC to serve as the exclusive Dealer Manager for the Tender Offer. Questions regarding the terms of the Tender Offer may be directed to J.P. Morgan Securities LLC, Liability Management Desk, U.S. toll free at (866) 834-4666 or collect at (212) 834-7489.
This press release is neither an offer to purchase nor a solicitation of an offer to sell any Notes in the Tender Offer and does not constitute a notice of redemption for the Notes.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “would,” “continue,” “seek,” “target,” “guidance,” “outlook,” “if current trends continue,” “optimistic,” “forecast,” “medium term,” “long term,” and other similar words. Such statements include, but are not limited to, statements about SLM’s (together with its subsidiaries, “Sallie Mae”) plans, objectives, expectations, intentions, estimates and strategies for the future, and other statements that are not historical facts. These forward-looking statements are based on Sallie Mae’s current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, among others, those set forth in Item 1A. “Risk Factors” and elsewhere in the SLM’s most recently filed Annual Report on Form 10-K, and other risks and uncertainties discussed from time to time in the SLM’s other filings with the Securities and Exchange Commission. Additionally, there may be other factors of which Sallie Mae is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. Sallie Mae does not assume any obligation to publicly update, revise, or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements that occur after the date such statements were made. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement. In light of these risks, uncertainties, and assumptions, you should not put undue reliance on any forward-looking statements herein.
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae® (Nasdaq: SLM), formally SLM Corporation (“SLM” or the “Company”), announced today the final results and expiration of its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 3.125% senior notes (the “Notes”) upon the terms and conditions described in the Company’s Offer to Purchase, dated May 6, 2026 (the “Offer to Purchase”). Capitalized terms used and not defined herein shall have the meaning ascribed to them in the Offer to Purchase.
As of 5 p.m., New York City time, on May 12, 2026, the Expiration Time for the Tender Offer, the Company had received tenders for an aggregate principal amount of $448,412,000 of Notes outstanding, or 89.68% of the aggregate principal amount of Notes outstanding. These amounts exclude $226,000 aggregate principal amount of Notes that remain subject to the guaranteed delivery procedures described in the Offer to Purchase and the Notice of Guaranteed Delivery.
In accordance with the terms of the Tender Offer, the Company will pay the Purchase Price for the Notes validly tendered prior to the Expiration Time or pursuant to the Notice of Guaranteed Delivery on May 15, 2026 (the “Settlement Date”). The Purchase Price for the Notes is $995.83 for each $1,000 principal amount of Notes validly tendered and accepted for purchase pursuant to the Tender Offer, plus accrued and unpaid interest on such Notes from the last interest payment date up to, but not including, the Settlement Date. For the avoidance of doubt, interest on the Notes will cease to accrue on the Settlement Date for all Notes accepted in the Tender Offer. All Notes purchased on the Settlement Date will subsequently be cancelled.
There can be no assurance that any Notes will be purchased. The Tender Offer is being made in connection with a contemporaneous offering of senior debt securities by the Company on terms and conditions (including, but not limited to, the amount of proceeds raised in such offering) satisfactory to the Company (the “New Notes Offering”). The Tender Offer is not conditioned upon any minimum amount of Notes being tendered. The Tender Offer may be amended, extended, terminated or withdrawn. Proceeds from the New Notes Offering will be used to repurchase Notes pursuant to the Tender Offer. The Tender Offer is conditioned upon, among other things, the completion of the New Notes Offering, and no assurance can be given that the New Notes Offering will be completed.
The Company expects to repay any Notes not tendered and accepted for purchase pursuant to the Tender Offer at their maturity. Subject to the completion of the New Notes Offering and the consummation of the Tender Offer, the Company expects to deposit with Deutsche Bank National Trust Company, as trustee funds sufficient to repay at their maturity the Notes not tendered and accepted for purchase pursuant to the Tender Offer, and thereby satisfy and discharge the indenture governing the Notes, as it applies to the Notes, shortly after the Settlement Date. The Company has retained J.P. Morgan Securities LLC to serve as the exclusive Dealer Manager for the Tender Offer. Questions regarding the terms of the Tender Offer may be directed to J.P. Morgan Securities LLC, Liability Management Desk, U.S. toll free at (866) 834-4666 or collect at (212) 834-7489.
This press release is neither an offer to purchase nor a solicitation of an offer to sell any Notes in the Tender Offer and does not constitute a notice of redemption for the Notes.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “would,” “continue,” “seek,” “target,” “guidance,” “outlook,” “if current trends continue,” “optimistic,” “forecast,” “medium term,” “long term,” and other similar words. Such statements include, but are not limited to, statements about SLM’s (together with its subsidiaries, “Sallie Mae”) plans, objectives, expectations, intentions, estimates and strategies for the future, and other statements that are not historical facts. These forward-looking statements are based on Sallie Mae’s current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, among others, those set forth in Item 1A. “Risk Factors” and elsewhere in the SLM’s most recently filed Annual Report on Form 10-K, and other risks and uncertainties discussed from time to time in the SLM’s other filings with the Securities and Exchange Commission. Additionally, there may be other factors of which Sallie Mae is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. Sallie Mae does not assume any obligation to publicly update, revise, or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements that occur after the date such statements were made. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement. In light of these risks, uncertainties, and assumptions, you should not put undue reliance on any forward-looking statements herein.
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae® (Nasdaq: SLM), formally SLM Corporation, today announced Co-President and Chief Financial Officer Pete Graham will speak at the 2026 Morgan Stanley US Financials Conference on Wednesday, June 10, at 7:30 a.m. ET.
A live audio webcast and replay will be available at SallieMae.com/investors.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Sallie Mae® (Nasdaq: SLM), formally SLM Corporation, today announced Co-President and Chief Financial Officer Pete Graham will speak at the 2026 Morgan Stanley US Financials Conference on Wednesday, June 10, at 7:30 a.m. ET.
A live audio webcast and replay will be available at SallieMae.com/investors.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Category: Corporate and Financial
View source version on businesswire.com: https://www.businesswire.com/news/home/20260529047762/en/
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